SummerHaven Investment Management LLC Makes New $646,000 Investment in Group 1 Automotive, Inc. $GPI

SummerHaven Investment Management LLC bought a new position in Group 1 Automotive, Inc. (NYSE:GPI) during the third quarter, according to its most recent filing with the SEC. The firm bought 2,687 shares of the company’s stock, valued at approximately $646,000.

Several other hedge funds have also bought and sold shares of the business. Integrated Wealth Concepts LLC bought a new stake in Group 1 Automotive in the 2nd quarter worth about $42,000. Anchor Investment Management LLC raised its stake in shares of Group 1 Automotive by 112.0% during the 2nd quarter. Anchor Investment Management LLC now owns 212 shares of the company’s stock worth $62,000 after purchasing an additional 112 shares during the period. Allworth Financial LP bought a new stake in shares of Group 1 Automotive during the 2nd quarter worth $75,000. Group One Trading LLC purchased a new position in shares of Group 1 Automotive in the 2nd quarter worth about $79,000. Finally, Global Retirement Partners LLC purchased a new position in shares of Group 1 Automotive in the 2nd quarter worth about $81,000. Institutional investors and hedge funds own 99.92% of the company’s stock.

Group 1 Automotive Stock Performance

NYSE GPI opened at $242.15 on Friday. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.02 and a quick ratio of 0.25. Group 1 Automotive, Inc. has a 1 year low of $225.51 and a 1 year high of $461.27. The stock has a market capitalization of $2.89 billion, a PE ratio of 10.09, a P/E/G ratio of 0.75 and a beta of 0.92. The company’s 50 day simple moving average is $258.61 and its two-hundred day simple moving average is $298.93.

Group 1 Automotive (NYSE:GPI) last posted its earnings results on Thursday, July 30th. The company reported $9.61 EPS for the quarter, missing the consensus estimate of $10.60 by ($0.99). The business had revenue of $5.39 billion for the quarter, compared to analysts’ expectations of $5.66 billion. Group 1 Automotive had a return on equity of 15.66% and a net margin of 1.31%. Group 1 Automotive’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $10.82 earnings per share. Analysts predict that Group 1 Automotive, Inc. will post 37.68 earnings per share for the current fiscal year.

Group 1 Automotive Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were given a dividend of $0.55 per share. The ex-dividend date was Tuesday, September 1st. This represents a $2.20 dividend on an annualized basis and a yield of 0.9%. Group 1 Automotive’s dividend payout ratio (DPR) is presently 9.16%.

Insider Buying and Selling

In other Group 1 Automotive news, major shareholder Conifer Management, L.L.C. purchased 133,472 shares of the business’s stock in a transaction on Monday, September 28th. The stock was acquired at an average cost of $243.58 per share, for a total transaction of $32,511,109.76. Following the completion of the transaction, the insider directly owned 1,772,050 shares in the company, valued at approximately $431,635,939. This represents a 8.15% increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have purchased 720,030 shares of company stock worth $187,264,264 in the last quarter. 2.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Seaport Research Partners set a $420.00 price objective on shares of Group 1 Automotive in a report on Monday, August 3rd. Weiss Ratings lowered shares of Group 1 Automotive from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, August 17th. Morgan Stanley cut shares of Group 1 Automotive from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $300.00 to $232.00 in a research note on Monday, October 5th. KeyCorp set a $425.00 target price on shares of Group 1 Automotive in a research report on Wednesday, October 7th. Finally, DA Davidson set a $425.00 price target on shares of Group 1 Automotive in a research note on Friday, July 10th. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $341.67.

Group 1 Automotive Company Profile

Group 1 Automotive, Inc is an international automotive retailer that operates franchised automobile dealerships. The company sells new and used vehicles from a range of manufacturers and provides related automotive services, including vehicle maintenance and repairs, parts and accessories, financing, and insurance products.

Founded in 1997 and headquartered in Houston, Texas, Group 1 Automotive serves customers through dealership operations in the United States and the United Kingdom, as well as other international markets.